How does the IOSS scheme work for sellers and buyers?

Sellers who have joined the IOSS scheme can register as beneficiaries and declare and pay VAT on the import of all goods covered by the scheme in one Member State. Sellers add VAT to the selling price of goods at the time of sale, and buyers do not incur additional tax liability on receipt. Sellers collect VAT from buyers on payment of the goods and declare it to tax authorities in the IOSS return submitted monthly.